Zeal Global Services Ltd

₹ 66.0 -2.94%

23 Oct - close price

About

Incorporated in 2014, Zeal Global Services Ltd provides Air Cargo Services^[1]

Key Points

Business Overview:^[1]
ZGSL is in the business of providing cargo General Sales and Service Agent (GSSA) services including sales, marketing, operations, and administration. Company has a network in 164 countries and a partnership with 14+ airlines. It has served 1100+ clients in 46+ segments.

Website NSE - SM

Market Cap ₹ 87.8 Cr.
Current Price ₹ 66.0
High / Low ₹ 121 / 55.9
Stock P/E 7.88
Book Value ₹ 69.4
Dividend Yield 2.27 %
ROCE 16.7 %
ROE 12.8 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.95 times its book value

Cons

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Services Services Transport Services Logistics Solution Provider

Part of Nifty SME Emerge

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Detailed Comparison with:

Half Yearly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Sep 2022	Mar 2023	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026
	64	56	56	94	99	170	197	171	114
	61	50	48	87	88	158	189	164	103
Operating Profit	3	6	8	8	11	13	9	8	11
OPM %	5%	11%	15%	8%	11%	7%	4.5%	4.4%	10%
	0	0	0	1	2	2	2	2	2
Interest	0	0	1	1	1	0	1	1	1
Depreciation	0	0	1	1	2	3	3	3	3
Profit before tax	3	6	7	6	10	12	8	6	9
Tax %	27%	25%	27%	26%	26%	26%	27%	26%	27%
	3	4	6	5	7	9	5	5	7
EPS in Rs	3.08	4.43	5.64	3.44	5.60	6.90	4.05	3.47	4.91
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	76	61	121	112	193	368	286
	75	58	114	97	175	346	267
Operating Profit	2	2	7	15	19	21	19
OPM %	2.5%	4.0%	6%	13%	10%	6%	6%
	0	0	0	0	2	4	4
Interest	0	0	0	1	2	1	2
Depreciation	0	0	0	1	3	5	6
Profit before tax	2	2	7	13	16	19	15
Tax %	26%	26%	26%	26%	26%	26%	27%
	1	2	7	10	12	15	11
EPS in Rs	1.68	2.51	7.37	10.08	9.03	10.95	8.38
Dividend Payout %	52%	11%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	36%
3 Years:	37%
TTM:	-22%

Compounded Profit Growth
10 Years:	%
5 Years:	44%
3 Years:	4%
TTM:	-23%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	-29%
1 Year:	-42%

Return on Equity
10 Years:	%
5 Years:	24%
3 Years:	18%
Last Year:	13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	0.60	0.60	2	10	13	13	13
Reserves	4	5	11	13	53	68	79
	3	2	2	17	10	14	20
	15	11	17	20	39	47	31
Total Liabilities	22	19	32	60	115	143	143
	0	1	0	9	18	19	15
CWIP	0	0	0	0	9	7	8
Investments	0	0	2	2	3	3	3
	22	18	29	48	85	113	117
Total Assets	22	19	32	60	115	143	143

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	9	-5	7	-9	23	14	-12
	-1	0	-5	-9	-43	-17	5
	1	-1	0	14	23	3	4
Net Cash Flow	9	-6	2	-3	3	1	-4
Free Cash Flow	9	-6	7	-19	3	10	-15
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	566%	-187%	123%	-45%	149%	91%	-41%

Ratios

Consolidated / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	17	56	39	51	31	25	37
Inventory Days
Days Payable
Cash Conversion Cycle	17	56	39	51	31	25	37
Working Capital Days	-64	-14	-9	-35	-24	-15	5
ROCE %		34%	65%	53%	30%	24%	17%

Insights

In beta

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Cargo Tonnage Handled
Tons ・Standalone data

x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx
xx	xx	xx	xx
	xxx	xxx	xxx
	xx	xx	xx
	xxx	xxx	xxx
	x,xxx	x,xxx	xx,xxx
	xx.xx	xx.xx

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Total Employee Strength
Number of Employees ・Standalone data

Countries Covered
Number of Countries ・Standalone data

Number of Airline Partners
Number of Partners ・Standalone data

Number of Customers
Number of Customers ・Standalone data

Number of Shipments
Number of Shipments ・Standalone data

Air Passenger Revenue Share
% of Total Revenue ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026	Sep 2026
	73.40%	73.40%	73.40%	73.40%	73.40%	73.40%	73.40%
	0.00%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00%	0.00%	0.00%	0.39%	2.19%	2.44%	2.45%
	26.60%	26.54%	26.60%	26.21%	24.41%	24.16%	24.15%
No. of Shareholders	811	879	1,409	1,410	1,301	1,183	1,094

	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	73.40%	73.40%	73.40%	73.40%
	0.06%	0.00%	0.00%	0.00%
	0.00%	0.39%	2.44%	2.45%
	26.54%	26.21%	24.16%	24.15%
No. of Shareholders	879	1,410	1,183	1,094

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Announcements

All

Annual reports

DRHP

Concalls

Nov 2024

Transcript

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